SÃO PAULO, May 6, 2020
/PRNewswire/ -- Telefônica Brasil - (B3: VIVT3 [Common Shares] /
VIVT4 [Preferred Shares]; NYSE: VIV), announces its results for
1Q20.
Improved customer base mix leading to higher profitability
and strong cash generation in this quarter.
Consolidated in
R$ million
|
1Q20
|
%
y-o-y
|
|
|
|
Net Operating
Revenues
|
10,825
|
(1.4)
|
Net Mobile Revenues
|
7,070
|
(0.1)
|
Net Handset Revenues
|
581
|
(2.9)
|
Net Fixed Revenues
|
3,754
|
(3.6)
|
Recurring Operating
Costs
|
(6,394)
|
(3.3)
|
Recurring
EBITDA
|
4,431
|
1.6
|
Recurring EBITDA Margin %
|
40.9%
|
1.2
p.p.
|
Net Income
|
1,153
|
(14.1)
|
Free Cash Flow
after Lease Payments
|
2,120
|
81.9
|
|
|
|
Total Accesses
(thousand)
|
93,082
|
(2.0)
|
Mobile
accesses
|
74,749
|
1.7
|
Fixed
accesses
|
18,333
|
(14.6)
|
Mobile market share of 33.0% in March 2020, the highest since 2006. Postpaid
accesses grew 6.6%, accounting for 58.5% of total mobile
accesses, with a market share of 39.0% in March 2020.
Broadband accesses reached 6,741 thousand customers in
1Q20 and FTTH had record-breaking 175 thousand net additions,
making the fiber subscriber base grow 30.4% y-o-y. Broadband
ARPU increased 16.0% versus 1Q19, reaching R$ 72.2.
Net revenues fell 1.4% y-o-y due to lower Mobile
Service Revenue, offset by FTTH and IPTV revenue performance.
Mobile service revenue grew 0.1% y-o-y reflecting more difficult
comparison basis due to early price increase of hybrid plans in
2019.
Recurring operating costs decreased 3.3% y-o-y
mainly due to lower commercial expenses due to digitalization and
automation initiatives and lower handset sales costs.
Recurring EBITDA totaled R$
4,431 million in 1Q20, up 1.6% y-o-y, with an EBITDA margin
of 40.9% (+1.2 p.p. y-o-y).
Capex ex-IFRS 16 totaled R$ 1,648 million in 1Q20, focused on the
expansion of the FTTH network and increased quality and capacity of
our 4G/4.5G networks.
Reported net income stood at R$
1,153 million in the quarter with profit distribution based
on the 1Q20 reaching R$420
million.
Free cash flow after lease payments grew 81.9%
y-o-y, to R$ 2,120 million in 1Q20,
driven by EBITDA expansion, postponement in regulatory tax payments
and lower OpEx and CapEx disbursements.
TELEFÔNICA BRASIL – Investor
Relations
Christian
Gebara
David Melcon
Luis Plaster
João Pedro Carneiro
+55 11 3430-3687 / ir.br@telefonica.com
To download the complete version of the Company's earnings
release, please visit our website:
http://www.telefonica.com.br/ir
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content:http://www.prnewswire.com/news-releases/1q20-results-telefonica-brasil-sa-301053834.html
SOURCE Telefônica Brasil S.A.